Elevate Capital Advisors LLC Makes New $971,000 Investment in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Elevate Capital Advisors LLC acquired a new position in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,486 shares of the financial services provider's stock, valued at approximately $971,000.

Other large investors have also modified their holdings of the company. Rovin Capital UT ADV increased its position in MarketAxess by 6.8% in the 1st quarter. Rovin Capital UT ADV now owns 2,458 shares of the financial services provider's stock worth $532,000 after buying an additional 157 shares during the period. Hixon Zuercher LLC grew its position in MarketAxess by 19.4% in the 1st quarter. Hixon Zuercher LLC now owns 10,680 shares of the financial services provider's stock worth $2,311,000 after purchasing an additional 1,739 shares during the last quarter. Achmea Investment Management B.V. bought a new position in shares of MarketAxess during the 1st quarter worth about $1,618,000. Oppenheimer Asset Management Inc. raised its position in shares of MarketAxess by 24.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 19,207 shares of the financial services provider's stock valued at $4,155,000 after buying an additional 3,764 shares during the last quarter. Finally, Stiles Financial Services Inc lifted its stake in shares of MarketAxess by 14.1% in the first quarter. Stiles Financial Services Inc now owns 7,669 shares of the financial services provider's stock valued at $1,661,000 after buying an additional 945 shares during the period. 99.01% of the stock is owned by institutional investors.

MarketAxess Stock Performance

MKTX traded up $2.51 during midday trading on Friday, reaching $221.68. 302,184 shares of the company were exchanged, compared to its average volume of 498,395. The stock's 50-day simple moving average is $220.97 and its 200 day simple moving average is $216.21. The stock has a market capitalization of $8.31 billion, a P/E ratio of 38.55, a PEG ratio of 2.85 and a beta of 0.85. MarketAxess Holdings Inc. has a one year low of $186.84 and a one year high of $296.68.

MarketAxess (NASDAQ:MKTX - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.05. MarketAxess had a return on equity of 19.93% and a net margin of 26.57%. The business had revenue of $208.58 million for the quarter, compared to analysts' expectations of $211.81 million. During the same quarter in the previous year, the business posted $1.92 EPS. MarketAxess's revenue for the quarter was down .8% on a year-over-year basis. On average, research analysts anticipate that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current year.

MarketAxess Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 21st were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Wednesday, May 21st. MarketAxess's dividend payout ratio (DPR) is presently 52.87%.

Analysts Set New Price Targets

Several research analysts recently issued reports on MKTX shares. UBS Group dropped their price target on shares of MarketAxess from $305.00 to $295.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Barclays lifted their target price on shares of MarketAxess from $232.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Citigroup increased their price target on MarketAxess from $250.00 to $265.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Morgan Stanley boosted their price objective on MarketAxess from $263.00 to $283.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Finally, Keefe, Bruyette & Woods lifted their price target on MarketAxess from $223.00 to $226.00 and gave the company a "market perform" rating in a report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, MarketAxess has an average rating of "Hold" and an average target price of $241.78.

MarketAxess Profile

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. The company offers trading technology that provides liquidity access in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.